Bank clients will be able not only to independently choose an insurance company, but also to change it after the loan is issued without worsening the conditions for it. Banks will be required to publish on the website information about which insurers are suitable for the purchase of a policy by a client and which rating of the organization is the minimum acceptable. Such changes were made to the draft government decree by the Federal Antimonopoly Service. The antimonopoly service confirmed this.
A sufficient requirement for the bank to approve an insurance company will be that it has a certain rating in one of four agencies (ACRA, Expert RA, NKR, NRA). At the same time, credit institutions will not be able to set a lower rate or other advantages on a loan when a client purchases a policy from a particular insurer, unless the same conditions apply to other organizations that meet the rating requirements. Now such conditions are not always met. The rating threshold will be determined by a decree, and banks will be able to lower this value for companies, but not raise it.
This will exclude banks from imposing specific insurers on the borrower and simplify the client’s choice of an organization to purchase a policy, the FAS reported. The largest insurance companies supported the changes. This will increase competition and transparency in the credit insurance market, says Evgeny Shcheklanov, Managing Director of SberStrakhovanie Zhizn. According to him, the A- rating level may become a suitable threshold.
More details – in the exclusive material of Izvestia:
“Rating move: Russians will be freed from insurance slavery”
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
